Mainstream Capital Management LLC Acquires Shares of 503 The Coca-Cola Company (NYSE:KO)

Mainstream Capital Management LLC bought a new position in shares of The Coca-Cola Company (NYSE:KO) during the fourth quarter, Holdings Channel reports. The firm bought 503 shares of the company’s stock, valued at approximately $31,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hara Capital LLC bought a new stake in Coca-Cola in the third quarter worth about $35,000. Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola in the 4th quarter worth approximately $37,000. MilWealth Group LLC purchased a new position in Coca-Cola in the fourth quarter valued at approximately $40,000. MidAtlantic Capital Management Inc. bought a new position in Coca-Cola during the third quarter valued at $43,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Coca-Cola in the fourth quarter valued at $43,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $70.08 on Wednesday. The company’s fifty day moving average price is $64.87 and its 200-day moving average price is $66.53. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The firm has a market capitalization of $301.40 billion, a price-to-earnings ratio of 28.37, a PEG ratio of 3.79 and a beta of 0.61. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. On average, equities research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 2.91%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio is currently 82.59%.

Analyst Ratings Changes

A number of brokerages recently issued reports on KO. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Thursday, February 13th. Piper Sandler raised their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Morgan Stanley boosted their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company lifted their price target on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $74.24.

Insider Buying and Selling at Coca-Cola

In other news, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Lisa Chang sold 13,445 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value of $961,317.50. Following the completion of the sale, the executive vice president now directly owns 94,676 shares of the company’s stock, valued at approximately $6,769,334. This trade represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 232,646 shares of company stock worth $16,515,469 over the last ninety days. Insiders own 0.97% of the company’s stock.

Coca-Cola Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.